Golden Insurance
Company Overview
Golden Life Insurance - Company Overview
Golden Life Insurance provides life insurance solutions designed for Australians 40 years and older. Policies offer financial support to loved ones, with benefit payouts up to $250,000 depending on the applicant's age, and include a 100% early payout for terminal illness. Golden Life Insurance is committed to a straightforward claims process and offers support through Australian-based claims specialists. Golden Insurance operates as a trading name of Neilson Financial Services Pty Ltd, with policies issued and managed by Golden Insurance as an agent for Hallmark Life Insurance Company Ltd, part of the St Andrew's Insurance Group.
Key Information
Key Information – Golden Life Insurance
- Underwriter Hallmark Life Insurance Company Ltd (part of the St Andrew's Insurance Group).
- Maximum Sum Insured (cash pay out)Up to $250,000 (This can vary based on the applicant's age at the time of application).
- Types of Cover Generally OfferedTerm Life Insurance (specifically designed for those aged 40 and over).
- Advance Payout Option: Yes, a 100% early payout is provided for terminal illness.
- Inflation Protection: It's not explicitly stated on their website whether they offer inflation protection.
- Family & Multi-Policy: The website doesn't explicitly mention family or multi-policy discounts.
- Waiting Periods: While not specified for standard death claims, there is likely a waiting period associated with the terminal illness benefit (typically a certain period after the policy commencement). This detail would be in the Product Disclosure Statement (PDS).
- Medical Requirement: They emphasize an "easy application," which often implies simplified underwriting. However, some health questions are likely involved. The extent of medical requirements would be detailed during the application process.
- Application ProcessPrimarily over the phone, described as quick and easy, taking only minutes.
- Cooling-Off PeriodIt is standard practice for life insurance policies in Australia to have a cooling-off period (usually 30 days). This allows the policyholder to review the policy and cancel it for a full refund if they change their mind.
- Life Insurance Code of Practice As a provider of life insurance in Australia, Golden Life Insurance (and their underwriter, Hallmark Life Insurance Company Ltd) would be expected to adhere to the Life Insurance Code of Practice. This code sets standards of service and conduct for the industry.
- Offers life insurance policies to: Australians 40 years and older.
- Early payout: Includes a 100% early payout for terminal illness.
- Claims process: Offers a straightforward claims process.
- Application: Policies can be arranged in minutes over the phone.
- Will kit included: Includes a free Will Kit with every policy to help communicate final wishes.
History and Milestones
Golden Insurance - History and Milestones
Golden Insurance is a trading name of Neilson Financial Services Pty Ltd, an Australian financial services provider. Neilson is part of a global network whose brands have been chosen by over 500,000 customers worldwide. Golden Insurance products are underwritten by Hallmark Life Insurance Company Ltd, part of the St Andrew's Insurance Group.
Key Milestones:
1999: Registration and incorporation of Golden Life Insurance Limited, marking the establishment of the company.
2000: Golden Life Insurance receives regulatory approval from the Department of Insurance and commences its business operations.
2025: Launch of Golden Life Insurance as a key product within the distribution partnership between St Andrew's Insurance Group and Neilson Financial Services, focusing on providing life insurance solutions for Australians aged 40 and over.
Golden Insurance continues to focus on offering straightforward life insurance options with an easy application process and dedicated Australian-based claims support for older Australians and their families
Key Strengths
Golden Insurance: Key Strengths
Backed by a Reputable Australian Insurer: Golden Insurance policies are underwritten by Hallmark Life Insurance Company Ltd, part of the St Andrew's Insurance Group, a well-established entity in the Australian insurance market. This partnership provides:
- Regulatory Compliance: Adherence to guidelines set by APRA and ASIC.
- Reliable Claims Handling: Assurance of expert claims management from a specialist life insurer.
Simple and Accessible Life Insurance for Over 40s: Golden Insurance focuses on providing clear and straightforward life insurance specifically designed for Australians aged 40 and over. This approach is ideal for individuals who:
- Appreciate an easy and quick phone application process.
- Seek a hassle-free path to obtaining coverage.
- Prefer dealing directly without the need for extensive complexities.
Key Benefit Inclusion: While focusing on core life insurance, Golden Insurance offers a significant built-in benefit:
- 100% Early Terminal Illness Payout: Provides immediate financial support upon diagnosis of a terminal illness.
- Free Will Kit: Offers added value by assisting policyholders with their estate planning needs.
Streamlined Application Process: The application process is primarily conducted over the phone and is designed to be quick and easy, potentially involving simplified health questions. This removes the need for time-consuming medical examinations in many cases.
Australian-Based Claims Support: All claims are managed by Australian-based specialists, ensuring:
- Local understanding and support during sensitive times.
- Clear and efficient communication throughout the claims process.
By focusing on these key strengths, Golden Insurance positions itself as a provider of accessible and reliable life insurance specifically tailored to the needs of Australians aged 40 and
Why Choose Golden Insurance
✓ No Medical Exams Required
Apply quickly and easily — no needles, no doctor visits, and no blood tests. Just answer a few simple health and lifestyle questions over the phone.
✓ Immediate Cover Upon Acceptance
Get peace of mind from day one. Once approved and your first premium is paid, your life insurance cover starts immediately.
✓ Flexible Payment Options
Choose fortnightly or monthly payments at no extra cost, making it easier to manage your budget without financial stress.
✓ Australian-Based Customer Support
When you need help or need to make a claim, you’ll speak with real people based right here in Australia — fast, friendly, and compassionate.
✓ Backed by Trusted Industry Partners
Golden Life Insurance is backed by Hallmark Life and part of Neilson Financial Services — a global group trusted by hundreds of thousands of customers.
✓ Designed for Australians Aged 40–80
Golden Life Insurance is tailored specifically for mature Australians, making it easier to get the cover you need without unnecessary complexity.
Features and Benefits
Lump Sum Benefit up to $250,000
Choose a cover amount that suits your needs, with benefit options ranging up to $250,000 depending on your age at application
Terminal Illness Cover Included
If diagnosed with a terminal illness (life expectancy under 12 months), the full benefit is paid early, giving you financial control during a critical time.
Automatic Annual Benefit
Increase Your cover increases by 3% each year on your policy anniversary (unless opted out), helping your benefit keep pace with inflation.
Guaranteed Renewable Cover
Once your policy is in place, it stays active as long as you continue to pay your premiums — no need to reapply or requalify each year.
Fortnightly or Monthly Premium Payments
lexible premium payment frequency gives you greater control over your budget, with no added fees for choosing more regular instalments.
Simple Claims Process
Your loved ones can access dedicated claims support from an Australian-based team, with straightforward steps and clear communication throughout.
Special Promotions & Discounts
Life Insurance Compare Australia
Golden Insurance does not currently have any special promotions with Life Insurance Compare, however you can use the comparison tool to compare Golden Insurance Life Insurance policies with other providers.
Pros & Cons of Golden Insurance
| Pros | Cons |
|---|---|
| Simple application process – No medical exams or blood tests; just a few health and lifestyle questions. | Age eligibility limited – Only available to Australian residents aged 40 to 80. |
| Immediate cover – Coverage starts from day one for death and terminal illness. | Premiums increase over time – Premiums generally rise as you age and with annual benefit increases. |
| Early payout for terminal illness – 100% of the benefit amount paid upon diagnosis. | Benefit amount capped – Maximum cover is $250,000, depending on age at application. |
| Flexible payment options – Choose between fortnightly or monthly payments at no extra cost. | No cash value – Policy has no surrender or investment value; cancelling after the cooling-off period means no refund. |
| Australian-based claims support – Dedicated team to assist with claims. | Exclusions apply – No payout for death or terminal illness resulting from intentional self-inflicted injury within the first 13 months. |
| Part of a reputable group – Backed by Neilson Financial Services, serving over 500,000 customers globally. | Not suitable for all needs – Does not offer additional cover types like TPD or income protection. |
Sustainability and Corporate Responsibility
Direct Cover – Sustainability and Corporate Responsibility
Golden Life Insurance is committed to sustainability and corporate responsibility, focusing on ethical practices, community engagement, and customer well-being. While specific initiatives are not detailed on their website, their association with Neilson Financial Services suggests adherence to responsible business practices.
Golden Life Insurance: Sustainability & Corporate Responsibility
Ethical Business Practices Golden Life Insurance operates under the principles of transparency and fairness, ensuring that their products and services are accessible and straightforward for Australian residents aged 40–80.
Community Engagement As part of the Neilson Financial Services group, which serves over 500,000 customers globally, Golden Life Insurance contributes to community well-being by providing financial protection solutions tailored to customer needs.
Customer-Centric Approach Golden Life Insurance emphasizes customer satisfaction, offering simple application processes without medical exams or blood tests, and providing immediate coverage for eligible individuals.
Commitment to Accessibility By simplifying the application process and offering flexible payment options, Golden Life Insurance ensures that life insurance is accessible to a broader segment of the population, promoting financial inclusion.
Continuous Improvement Golden Life Insurance is dedicated to enhancing their services and products, aligning with best practices in the insurance industry to meet evolving customer expectations and societal needs.
Claims Process
Notify Golden Life Insurance
To initiate a claim, contact Golden Life Insurance through one of the following methods: phone 1800, 849, 156, email or mail. The claims team will guide you through the next steps and provide the necessary forms.
Prepare Required Documentatio
nHaving the following information ready can help expedite the process: Full name and date of birth of the life insured.Certified copy of the death certificate or coroner’s report. Identification documents for the claimant(s), such as a driver’s licence, birth certificate, or passport. Bank account details for the payment of the benefit.
Submit the Claim
Complete the claim form provided by Golden Life Insurance and submit it along with the required documents via your chosen method of contact.
Claim Assessment
Once the claim is received, Golden Life Insurance will review the information and may contact you if additional details are needed.
Benefit Payment
Upon approval, the benefit will be paid to the person(s) legally entitled to it. Any premiums paid between the date of death and the claim payment date will also be refunded.
Partnerships & Affiliations
St Andrew’s Insurance Group
Golden Life Insurance products are underwritten by Hallmark Life Insurance Company Ltd, part of the St Andrew’s Insurance Group. This partnership aims to provide consumers with more choice and easy access to life insurance through simple application processes
Neilson Financial Services Global Network
Golden Life Insurance is a trading name of Neilson Financial Services Pty Ltd, a global life insurance specialist with operations in Australia, the UK, Canada, Ireland, and the USA. Neilson's brands have been chosen by over 500,000 customers worldwide and are rated 'Excellent' on Trustpilot
Product Disclosure Statement
Golden Insurance - Product Disclosure Statement
This Product Disclosure Statement (PDS) is designed to help you understand the main considerations you need to know when deciding whether to purchase a Golden Life Insurance policy and determining if it is right for you. It sets out the key features, benefits, terms, conditions, risks and exclusions of the policy. It also includes information about premium payments, the complaints process and how to make a claim.
Key Information:
- Product Name: Golden Life Insurance
- Issue Date: 4th December 2024
- Insurer: Hallmark Life Insurance Company Ltd (ABN 87 008 446 884, AFSL 243469)
- Distributor: Golden Insurance (a trading name of Neilson Financial Services Pty Ltd)
What’s Included:
- Lump sum benefit paid upon death or diagnosis of a terminal illness.
- Optional Automatic Benefit Amount Increase of 3% annually.
- Minimum and Maximum Benefit Amounts vary based on age at policy commencement.
- Eligibility for Australian Residents aged between 40 and 80 years old.
Important Notes:
- Suicide and intentional self-harm are excluded within the first 13 months.
- Premiums are variable age-stepped and generally increase each year.
- Policy has no surrender value.
- You have 30 days from the policy commencement date to make sure you are happy with your policy and decide whether you want to keep it (this is called the ‘Cooling Off Period’).
To access the full PDS: The PDS is available from Golden Insurance
IMPORTANT NOTE: This information is general information only, which means it doesn't consider your individual objectives, financial situation or needs. Therefore, you should consider how appropriate CommInsure Life Insurance is for you by carefully reading this PDS and comparing your options before making a decision.
Target Market Determination
Golden Life Insurance TMD
Effective Date: 4th December 2024
Issuer: Hallmark Life Insurance Company Ltd (ABN 87 008 446 884, AFSL 243469)
Who this cover is designed for:
The target market comprises consumers who:
- Are Australian residents (as defined in the PDS); and
- Are aged between 40 to 80 years old at the time of application.
- Have, or expect to have, outstanding financial commitments that may not be fully satisfied by their estate, or any other insurance or financial protection, in the event of their death or terminal illness diagnosis. Financial commitments include supporting dependents, outstanding mortgage commitments or other debts, school fees and future education expenses for children, and final expenses, medical costs associated with a terminal illness, and personal and palliative care costs; or
- Want to leave an inheritance behind, or continue to provide financial support, for their loved ones in the event of their death or terminal illness diagnosis.
- Have the financial capacity to afford ongoing policy premium payments, recognizing that these premiums will generally increase annually.
Key Features:
- Life cover only – pays a lump sum in the event the life insured dies or is diagnosed with a terminal illness.
Benefit Amounts:
- You can choose a benefit amount from $10,000 up to a maximum of:
- $250,000 if you are 40 to 60 years old at the time of application;
- $200,000 if you are 61 to 70 years old at the time of application; or
- $150,000, if you are 71 to 80 years old at the time of application.
- Automatic Benefit Amount Increase - the benefit amount increases on each policy anniversary by 3% of the most recently chosen benefit amount. You can opt out of this feature.
- Premiums can be paid fortnightly or monthly by direct debit.
- Premium Structure: 'Variable age - stepped premium' structure, meaning premiums will increase each year.
- No expiry age.
When it might not suit:
This product is not suitable for consumers who:
- Require a level of cover that exceeds the maximum sum insured available under the policy;
- Require premium stability or certainty (such as a product that provides a level premium structure);
- Are unable to fund or afford the policy premiums in accordance with a stepped premium structure;
- Are unable to satisfy the underwriting requirements of the application process, which includes answering health and lifestyle questions; or
- Are seeking life insurance cover which is not offered by the Golden Life Insurance product (such as total and permanent disability insurance, trauma insurance or income protection insurance).
Contact Details
Contact Details – Golden Insurance
Company Name: Golden Insurance (a trading name of Neilson Financial Services Pty Ltd)
General Enquiries Phone: 1800 299 351
Claims Enquiries Phone: 1800 849 156
Postal Address: PO Box R985, Royal Exchange NSW 1225
Operating Hours: Monday to Friday, 8:00 AM – 7:00 PM (AEST/AEDT), excluding NSW public holidays